Unibet continues to break records

4May 2013

Unibet

After reporting record fourth-quarter financial results in February, Malta-based online gambling operator Unibet Group has now announced that the first three months of 2013 saw it increase gross winning revenues by 16 percent year-on-year to £59.3 million.

Unibet revealed that its interim financial results for the first quarter of 2013 also show that it boosted its earnings before interest, tax, depreciation and amortisation by 11.7 percent year-on-year to £17.1 million while its operational profit rose some 7.7 percent when compared with the same period in 2012 to reach £12.5 million.

Continuing the good news, Unibet stated that its first-quarter operational cashflow before movements in working capital grew by 11.7 percent year-on-year to £17.1 million while it had 86,135 more active customers when compared with the same three-month period last year at 489,923.

However, Unibet declared that its profit before tax dropped by 2.5 percent year-on-year to £11.4 million while this figure after tax was 1.85 percent lower than for the corresponding period in 2012 at £10.6 million.

“Strong underlying growth has delivered all-time highs in gross winnings revenues and earnings before interest, tax, depreciation and amortisation despite lower than average sportsbetting margins,” said Henrik Tjarnstrom, Chief Executive Officer for Unibet.

“We have also noted a continued strong development of the business in recently re-regulated markets such as Denmark and Belgium where we have invested further in marketing. Our mobile offering continues to grow and is now over 16 percent of gross winnings revenues.

“More than 26 percent of Unibet’s gross winnings revenues for the first quarter came from locally regulated markets. All re-regulated markets delivered improved results compared to the fourth quarter of 2012 and the locally regulated markets combined made significant positive earnings before interest, tax, depreciation and amortisation contribution.

“Positive factors driving this performance include good customer intake and retention leading to record high gross turnover. Our strong cashflow has enabled us to repay the full loan balance during the quarter.

“In the first four weeks of the second quarter, average daily gross winnings revenues were around 15 percent higher than for the second quarter of 2012.”